ACCRETION ACQUISITION CORP.: debt financing — Accretion Acquisition terminates LOI with New Era Helium; extends deadline to Dec 25, 2023

ACCRETION ACQUISITION CORP.

Abandoned non-binding LOI with New Era Helium Corp. for a business combination; will continue pursuing other targets.
Board extended business combination deadline from Nov 25 to Dec 25, 2023 via one-month extension.
Issued $80,000 unsecured promissory note to sponsor to fund the trust extension.
Issued $200,000 unsecured working capital note to sponsor; both notes are zero-interest, due at closing or liquidation.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

ACCRETION ACQUISITION CORP. incurred loan of $80,000 with Accretion Acquisition Sponsor, LLC at no interest maturing upon the earlier of (a) the liquidation of the Company and (b) the closing date on which the Company consummates a merger, capital stock exchange, asset acquisi.

Instrument: loan
Principal: $80,000
Counterparty: Accretion Acquisition Sponsor, LLC
Rate: no interest
Maturity: upon the earlier of (a) the liquidation of the Company and (b) the closing date on which the Company consummates a merger, capital stock exchange, asset acquisi
Event: incurrence

Exact text from the filing

On November 17, 2023, Accretion Acquisition Corp. (the "Company") issued (i) an unsecured promissory note (the "Extension Note") to Accretion Acquisition Sponsor, LLC (the "Sponsor") in the principal amount of $80,000 in connection with the Extension (as defined below) and (ii) an unsecured promissory note (the "Working Capital Note" and together with the Extension Note, the "Notes) to the Sponsor in the principal amount of $200,000 for working capital purposes.

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Source: SEC EDGAR

accession 0001104659-23-120349

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